In a recent AMA held over on Reddit today, OnePlus has stated that they are "actively working" on releasing the Android 7.0 Nougat update for the OnePlus 3. This is great news for the UK's O2 subscribers as they're now to become the exclusive carrier for the OnePlus 3 in the region. With Nougat now out in the open and continuing to makes its way to all Nexus devices officially, as well as coming out of the box on phones such as the LG V20 and the upcoming Pixel and Pixel XL from Google to be announced next week, developers are now likely working as hard as they can to get the update out to their users. In the case of OnePlus this holds true as well but they have not yet mentioned a time frame for the launch of the update just yet, which means it could be just around the corner or it could still be a little ways off.
There is no way to know for sure, but "actively working" on the software update does at least give users some frame of reference on what the progress of the update may be like. While Nougat may not be here and available for installation just yet, OnePlus has been consistently putting out newer versions of the Community Builds for the OnePlus 3 which, while they may not be the newest version of Android, they do at least introduce some new features as well as much needed bug fixes and improvements to the software to help smooth out the user experience overall.
While Android Nougat for the OnePlus 3 is likely a big focus for the company since the OnePlus 3 is now their current flagship, it is not the only software update that they're working on as they also have Android Marshmallow software in the works for the OnePlus X. The better news for OnePlus X owners that have been waiting on their bump to Android Marshmallow is that OnePlus states the software should be ready for a release sometime next week, which means users should be ready to watch for over-the-air software update alerts. Unfortunately, OnePlus will not be pushing out Android Nougat to the OnePlus X due to the Snadpragon 801 processor that powers the device. Although OnePlus has mentioned that they're working on Android Nougat for the OnePlus 3 actively, it appears they did not respond to a question on the AMA which asked whether they would consider updating the directly to Android 7.1.